Consumer confidence increasing - Savings - News - Moneyfacts


Consumer confidence increasing

Consumer confidence increasing

Category: Savings

Updated: 27/01/2010
First Published: 31/03/2009

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Consumer confidence is at its highest level for nine months, it has been revealed.

GfK NOP's Consumer Confidence Index increased by five points in March and is now at a level not seen since May last year.

While confidence is still historically low, falling interest rates and reductions to household bills seem to have galvanised optimism in UK consumers.

Confidence in the general economy over the next 12 months has also improved markedly, rising by some nine points.

Indexes for personal financial situations, savings and major purchases all showed increases.

"When looking to the future, consumers are feeling better about the likely performance of the economy over the next 12 months," commented Rachel Joy of the GfK NOP consumer confidence team.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Savings rates plummet to fresh lows yet again

It’s becoming a recurring theme, and unfortunately, it’s showing no signs of stopping. Savings rates have plummeted to fresh lows once again as the impact of the base rate cut continues – and this month, product availability has followed.

Less than half of savings accounts beat inflation

Official figures show that inflation jumped up during September, with CPI rising to 1%. Not only does this mean that consumers may begin to feel the impact on their wallets, but there are now far fewer savings accounts that will beat inflation.

Number of savings accounts falls to record low

As if the continued drop in savings rates wasn’t bad enough, our latest research reveals another blow to already hard-pressed savers, with the number of accounts available having fallen to a record low.